Things in school have been completely overwhelming..
So when you are down you must always think about the good things right!
I was thinking that perhaps I should blog about the whole buying house process. I’ve seen a lot of BTBs blogging about their BTO process and it’s pretty straightforward me thinks cos, its Singapore and gahment’s processes are quite streamlined. But a little hard to find info for ECs!
I wrote here about searching for a resale flat and we were mostly looking at EMs because we both felt that space is good. And I wanted to have something with an outdoor balcony. Mr Law wants Kopitiams and 24hours food places.
But the resale market is tough man! We can’t seem to find a value for money purchase that’s just right for us.
We never considered BTO cos we didn’t think we could wait it out + we did not want to live with our parents.
Not that there is anything wrong with that. I mean pahala banyak jaga orang tua. Kalau ada dugaan tu, tu kan chance dapat lebih pahala by being sabar.
But. Susah bebb, I need to think of Mr Law and his needs too 🙂
That was when Fazee (SIL) told me to have a look at Sol Acres. Sol Acres is an EC, straddled between Gombak, Choa Chu Kang and Bukit Panjang.
I fell for it instantly.
Location: Proximity to both our parents, LRTs, MRTs, Work
Size: Healthy 99sqm 3 bedder (typical of BTOs, sliighhttllyy larger then some) And ok laaa. Pool view didn’t hurt either.
Ammenities: Shuttle to Jurong East, Condo facilities.
4Ms: Makan(Kopitiam), Malls, Market, Maccas.
Price point: Competitive. It’s very comparable to the EMs we would have paid for, low maintenance fee (what you would pay for a regular HDB) but with condo amenities. 🙂
Others: Finishings done! Alhamdulilah! Save $$. I like that we have a number of Malay neighbours, that we have our small outdoor balcony where I envision our families coming together for birthdays etc. Or more like it’ll be a deck where all the makcik makciks and neneks neneks in mah life yelling for their kids to get out of the pool. Tu pon apa salahnya 🙂
So we took a chance, did Istikharah and signed out the dotted lines.
I made Mr Law sign first cause my hand was trembling.
Things to note:
Unlike the BTO process, you can just walk into the showroom point point, talk talk, sign sign and in 1-2 years time get your home.
There’s no queue number, no waiting game, no ballot for choosing your unit. Everything on a just come and we will serve basis.
Everyone is so nice to you (they have a 2% commission), offers you drinks and you pretty much float in and out.
- When you are planning to get an EC, you should be prepared to part with at least $700k for a 3 bedder.
- You will be eligible for the first timer grant *only*. No other grants.
- There is an income ceiling of $14,000 but ask the developer for possibilities if your combined income edges pass this ceiling!
- If you have a HDB and are planning to upgrade, there is a tax imposed on you.
“Jeng jeng jeng”
Things to prepare with immediate effect
5% of property price for booking fees (in cash immediately)
15% upon Sales and Purchase agreement (usually in 8 weeks. Transaction to the lawyer; see below)
$2,500 lawyer conveying fees to set up your Sales and Purchase agreement (I did not lift a finger. My agent set it up)
$800 to the banker to set up your Housing Loan. (We went to OCBC. My agent set it up. You can go anywhere. The banks are having a price war so go and take advantage of them!)
$16,000 buyer’s stamp duty (paid to said conveyance lawyer)
What I’m looking forward to the most is to get a Single Bed in the room so we can cuddle closer 🙂 and have space to pray jemaah together. I’m looking forward to family, to the new adventures.
Yes. So.. I’m a fresh grad (NUS) doing my Post grad studies in NIE now. Mr Law has been in the legal profession for the past 3 years.
We are not exactly rolling in it. And while I’ve always been financially independent, this is the single biggest purchase of our lives. But Alhamdulilah, with hard work, perseverance and starving here and there, we are doing alright Insyallah.
Yes guys, thats my stomach growling.